DataWallet : Solution for Data Brokerage Challenge

Modern people and the internet cannot be separated one another. It is sure that nowadays accessing internet can be done very easily. People can simply use their computer to connect the internet but the internet use is getting wider time after time. The smart phone use surely plays very important role for the increasing amount of internet user in the world. Of course people must not forget about various kinds of gadget which is digitalized with internet connection.

People even can find wearable gadget which can be connected to the internet. People can use the internet for various purposes but each time they make a move in the internet, there will be data created. It means that there are more and more data which is made every day. If people think that it is only about the quantity, they can be wrong because the data increasing is also about increasing value. It even can be considered as the most valuable resource in the world soon enough.

Why It is Valuable

Of course people will have a big question about the reason why the data is valuable and it increases exponentially. In fact, the companies will need the data very much. Nowadays, people can see that online economy is developed further. There are many people who choose to do transaction online. It offers easiness to start business online but at the same time, there will be higher challenge of competition which can be found. To win the competition, companies need to understand the customers properly. This understanding can be found from the data. It is true that the data will be kind of fuel for the operation of the companies. If the companies can understand the need of the customers, there will be block buster product which can be made. It can avoid a lot of money which is wasted for releasing products which are failed on the market.

Data Brokerage

People create data every day by using the internet but they do not own it. Data Brokers become a firm which collect the data and sell it without the consent of data creators. There is no information about the way data is taken and used. It is really valuable but data creators do not have any opportunity for enjoying the profit of data selling. In fact, there is a lot of money involved in data selling business. The current model of data brokerage also comes with risk especially for the company which buys the data. The brokers cannot sell all of the data and this can cause the lack of information critical dimension so the companies will only get inaccurate and generic insights from the data.

There is also problem because the broker is not allowed to link data from different sources to one user profile which is more specific. It can cause target audience mischaracterizations so there will be a lot of money wasted. Those problems can be solved by putting people in charge of the data they created. They can also control it and get the profit with their data. This is what they can do with Datawalllet.

DataWallet Team

FOUNDING TEAM

Serafin Lion Engel, CEO

Daniel Hawthorne, CTO

INVESTORS

Tim Draper, Founder, DFJ and investor in Skype, Tesla & SpaceX

Marc Benioff, Founder, Chairman, CEO of Salesforce

ADVISORY BOARD

Kyle Kemper, Managing Director, Bitcoin Association of Canada

Alex Norta, Chief Scientific Officer, Agrello

Michael Perklin, Chief Information Security Officer, ShapeShift

Guenther Walther, Department Chain, Statistics, Stanford University

Bill Demas, CEO, Shopkick

For detailed ABOUT Team Members descriptions please check out: Datawallet Team or Join Telegram to communicate with #DXT team!

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